Wilmington, Delaware, United States, Transparency Market Research, Inc., Aug. 01, 2024 (GLOBE NEWSWIRE) -- 2,3-Butanediol finds versatile applications and demand across various end-use industries such as pharmaceuticals, agrochemicals, cosmetics & personal care, and plastics.
As a result, the 2,3-butanediol market size (2,3-부탄디올 시장 규모) is projected to increase from US$ 270.4 Mn in 2022 to reach US$ 363.9 Mn by the end of 2031 at a steady CAGR of 3.5% during the forecast period, according to Transparency Market Research (TMR), a leading global market research company.
2,3-Butanediol Market Scenario
2,3-butanediol is a type of diol that consists of two hydroxyl groups (-OH) joined to adjacent carbon atoms. Its unique chemical structure results in several advantageous properties, making it a valuable compound in numerous industrial applications.
This colorless liquid with a faint odor plays a vital role in the manufacture of solvents, plastics, and fibers. Its origin can be traced back to either biomass feedstock or petrochemical sources.
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Currently, 2,3-butanediol is manufactured using industrial methods and can also be obtained by screening natural microbial strains.
It exhibits low toxicity; therefore, it is primarily utilized in various industrial applications and in the production of derivatives such as softening agents, plasticizers, polyesters, pharmaceuticals, and cosmetics.
2,3-Butanediol also serves as an antifreeze agent and pesticide. Furthermore, it is gaining prominence as an emerging material, particularly in the development of several eco-friendly products.
2,3-Butanediol Market - Key Takeaways
- Increase in utilization of 2,3-Butanediol in cosmetic products
- Rise in adoption of 2,3-Butanediol in pharmaceuticals sector
2,3-Butanediol is a synthetic or plant-derived liquid that plays an essential role in the cosmetics sector.
Its humectant qualities aid in moisturizing skin, while it’s solvent, dispersion, and stabilizing qualities support the effectiveness of product ingredients. It is regarded as a substitute for butylene glycol. Furthermore, 2,3-Butanediol is considered an alternative to butylene glycol.
Fermentation is one of the methods employed to obtain 2,3-Butanediol. Its dispersing qualities have been demonstrated to prevent the clumping of components in emulsions. This helps stabilize formulas and keep key ingredients suspended, thus ensuring their efficacy.
Depending on the objectives of the formula, 2,3-butanediol can be utilized at levels of 1–10%; however, lesser concentrations can be employed in blends to help with dispersion and/or conserve other ingredients.
In July 2024, GS Caltex signed a new partnership with Summit Cosmetics in Japan to expand its white bio-businesses in the global cosmetics market. One of the key agreements from the MOU was to incorporate GS Caltex's GreenDiol, a brand for 2,3-Butanediol, an organic component and essential element in cosmetics, into Summit Cosmetics' upcoming products.
2,3-Butanediol is a useful solvent that promotes smoother application, uniformly distributes vitamins and anti-inflammatory ingredients, and keeps skin moisturized.
2,3-Butanediol is also employed in the pharmaceuticals sector primarily as an intermediate in the synthesis of several compounds. It aids in enhancing medication formulations and serves as a solvent for active pharmaceutical ingredients (APIs).
Thus, 2,3-Butanediol plays an important role in the production of pharmaceuticals and other fine chemicals, where it serves as a building block for creating more complex molecules. This has enabled the production of novel drugs and therapeutic agents, making it an essential component in pharmaceutical research and manufacturing.
2,3-Butanediol Market Regional Insights
- Asia Pacific dominated the global landscape in 2022
Asia Pacific accounted for the largest market value in 2022. The region is estimated to maintain its dominant position during the forecast period.
Robust industrialization in countries such as India, China, and Japan; technological innovation, particularly in chemical manufacturing; and advancements in production technologies, such as improved catalytic processes and bio-based production methods, are augmenting the 2,3-Butanediol market share of Asia Pacific.
Expansion in the healthcare sector and increase in investment in drug development are also driving the market dynamics of the region.
Several government bodies in Asia Pacific are implementing policies and providing incentives to support chemical manufacturing and industrial development to create a favorable environment for the 2,3-butanediol industry growth.
Rise in industrial focus on lowering the environmental footprint is also creating lucrative 2,3-butanediol market opportunities for companies operating in Asia Pacific.
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Leading Providers of 2,3-Butanediol
Prominent 2,3-Butanediol market manufacturers are investing significantly in research and development (R&D) activities to introduce new and improved production methods and applications, thus enhancing the overall market potential for 2,3-Butanediol.
Haihang Industry Co., Ltd., Guangzhou Jiahua Chemical Co., Ltd., Henan Coreychem Co., Ltd., Tokyo Chemical Industry Co., Orochem Technologies, Inc., GS Caltex, Precigen, Inc., Central Drug House, and Biokemik are some of the leading players operating in the global 2,3-butanediol landscape.
2,3-Butanediol Market Segmentation
Chemical Structure
- 2,3-Butanediol (2S, 3S)
- 2,3-Butanediol (2R, 3R)
- Meso-2,3-Butanediol (2R-3S or 3R-2S)
- Others
Purity
- Up to 85%
- >85%-97%
- >97%
Route of Synthesis
- Fermentation
- Conventional
Function
- Humectant
- Anti-freeze Agent
- Solvent
- Plant Growth Promoter
- Flavoring Agent
- Others
Application
- Fertilizers
- Plasticizers
- Polyurethanes
- Printing Inks
- Perfumes
- Food Additives
- Resins
- Others
End-use
- Chemical
- Pharmaceutical
- Cosmetics & Personal Care
- Food & Beverages
- Inks & Dyes
- Plastics
- Agrochemicals
- Others
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